Heartland Properties, Progressive Designs begin redevelopment of historic Reedsburg Municipal Hospital

Project will provide needed, affordable senior housing in Sauk County
 
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Heartland Properties, Inc., a subsidiary of Alliant Energy Resources, and Progressive Designs, a Wisconsin-based developer, announced today that renovation of the former Reedsburg Municipal Hospital is officially underway. The project will result in an affordable housing facility called Park Street Senior Homes.
The Reedsburg Municipal Hospital, located at 547 North Park Street, was built in 1933 with a later addition constructed in 1953. Renovation is expected to cost $3.1 million and take approximately one year to complete. The building will retain all architecturally significant features in order to preserve the heritage of the Park Street Historic District. When completed, the facility will house 24 unique apartment homes for people age 55 and older.
The Park Street Senior Homes project is being made possible through a $2 million investment by Alliant Energy Resources - Heartland Properties. Additional financial support is being provided by the Wisconsin Housing and Economic Development Authority, the City of Reedsburg and John Deere Financial Services. Progressive Designs of Waunakee, Wis. is the project developer.
"We're enthusiastic about investing in the Reedsburg community and preserving this landmark building for future generations," said Russ Kaney, director of housing investments for Heartland Properties. "As the area's senior population continues to grow, providing affordable housing options for them becomes increasingly important."
The three-story, brick building anchors the north end of Park Street Historic District, a quiet, residential neighborhood five blocks from downtown Reedsburg. The 1.2-acre site includes garages and will also be home to the Reedsburg Food Pantry.
"We're pleased to be a partner in the collaborative efforts to redevelop the Reedsburg Municipal Hospital," said Mayor Carl Stolte, City of Reedsburg. "Projects like this are an illustration of how city, state and private entities can work hand in hand for the betterment of communities."
Nicholas Ladopoulos of Progressive Designs, added, "I am extremely pleased and grateful that we are able to preserve the Reedsburg Municipal Hospital. The building contributes to the uniqueness of Reedsburg's history and is a landmark that prompts memories and continuity. There is no better use to which we could put this beautiful building. Park Street Senior Homes will satisfy the senior housing needs of the future and maintain the historic beauty of the neighborhood."
Park Street Senior Homes is expected to be ready for occupancy in early 2003. The property will be professionally managed for Heartland Properties by the Meridian Group. For more information about Park Street Senior Homes, call 608-286-2329.
Progressive Designs is a Wisconsin-based design and development company committed to building historic preservation and rehabilitation projects as well as new mixed-use developments - the innovative combination of attractive, affordable housing and commercial space.
Heartland Properties is a subsidiary of Alliant Energy Resources with a commitment to pursuing financial, economic development and community partnerships. Park Street Senior Homes is Heartland Properties' latest investment in Wisconsin and one of more than 125 developments it has participated in throughout the Midwest.
Alliant Energy (NYSE: LNT) is a growing family of energy services companies with domestic and international operations. headquartered in Madison, Wis., Alliant Energy provides electric, natural gas, water and steam services to more than three million customers worldwide. Alliant Energy Resources, Inc., home of the company's non-utility businesses, has operations and investments throughout the United States as well as in Australia, Brazil, China, Mexico and New Zealand.

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